AGREEMENT
THIS AGREEMENT is made effective as of the 3rd day of March 1997, by and
between Lyric Energy, Inc., a Colorado corporation, authorized to do business
in Texas, whose address is 0000 Xxxx 0xx Xxxxxx, Xxxxxxxx, Xxxxx 00000; and
Amarillo National Bank, a national banking corporation, whose address is Plaza
I, 000 X. Xxxxxx, Xxxxxxxx, Xxxxx 00000.
In consideration of the mutual premises contained herein the parties do
hereby agree as follows:
1. Effective the 31st day of July 1991, Lyric and Amarillo
National Bank entered into a Compromise and Settlement
Agreement.
2. Section 10.b of such Agreement provides that the number
of shares of Lyric Energy, Inc. common stock that
Amarillo National Bank would be entitled to maintain
would represent 8.9976% of all issued and outstanding
shares of common stock in the event Lyric issued any
additional shares subsequent to July 31, 1991. Lyric
has issued additional shares since July 31, 1991 to
other than the Amarillo National Bank and has issued
sufficient additional shares to the Amarillo National
Bank to maintain the Bank's stock holdings at 8.9976%
of the total of all issued and outstanding shares.
It is the desire of the parties to terminate the Agreement that maintains
Amarillo National Bank's percentage of ownership of Lyric common stock.
As a consequence, effective the date first written above, Section 10.b is
terminated and of no further force and effect.
IN WITNESS WHEREOF the parties have executed this Agreement.
LYRIC ENERGY, INC.
By /s/ X.X. Xxxxx
X.X. Xxxxx, President
AMARILLO NATIONAL BANK
By /s/ R. Xxxxxx Xxxxxx
R. Xxxxxx Xxxxxx,
Executive Vice President
